Steel titan ArcelorMittal remains on track to meet its annual iron ore and coking coal targets, its chief financial officer said Wednesday.

"We are doing better in mining," Aditya Mittal told journalists in a conference call. Both iron ore and coking coal are key ingredients used in steelmaking.

Second-quarter iron ore from its own production rose 2.4% on year to 13.1 million metric tons, while coking coal from its own production rose 23% on year to 2.1 million tons.

Mittal confirmed that the company still plans to increase iron ore from its own production by 10% this year and coking coal from its own production by 20% despite suffering some production setbacks in the first half. In 2010, ArcelorMittal produced 48.9 million tons of iron ore and 7 million tons of coking coal from its own production.

Mittal said on-year output growth will be faster in the second half of this year in order to catch up following a slight production setback in the first half of this year.

Production fell on-year in the first quarter due to a fire at one ArcelorMittal's concentrators in Canada, maintenance at a sinter plant in Ukraine, and weather disruptions in Brazil.

-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328; alex.macdonald@dowjones.com

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